NASDAQ Dubai and The Options Industry Council Sign Licensing Agreement to Promote Middle East Investor Education
Dubai and Chicago—January 29, 2009
NASDAQ Dubai and The Options Industry Council (OIC), a world leader in equity options education, have signed a licensing agreement to develop an equity options education program for Middle East investors and financial advisors.
NASDAQ Dubai, the international stock exchange serving the Middle East, will tailor content provided by Chicago-based OIC to deliver a comprehensive education program. This will include seminars run by NASDAQ Dubai Academy explaining equity options for institutional and individual investors, as well as brokers.
Options are derivatives that are used around the world to hedge risk. In 2008, 3.58 billion options contracts were traded on exchanges in the U.S. NASDAQ Dubai is working to list equity options in 2009 (subject to regulatory approval), following the launch of its equity futures market in November 2008.
Jeff Singer, Chief Executive of NASDAQ Dubai, said: "Supported by the internationally recognized expertise and training materials of the OIC, NASDAQ Dubai aims to play a key role in delivering information about the opportunities offered by equity options trading. Options traded on-exchange have the potential to become a major asset class in the region as investors seek to insure against risk.”
“OIC has experienced continued worldwide investor interest in the U.S. equity options markets, and the use of this versatile investment tool, generally,” said Gina McFadden, OIC President. “Working with NASDAQ Dubai to bring options education to the Middle East is a natural extension of OIC’s mission to inform investors and their financial advisors about the benefits and risks of equity options.”
About NASDAQ Dubai
NASDAQ Dubai (formerly called the DIFX) is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, structured products, Sukuk (Islamic bonds) and conventional bonds. The majority shareholder of NASDAQ Dubai is Borse Dubai with a two-thirds stake. NASDAQ OMX Group owns one third of the shares. The regulator of NASDAQ Dubai is the Dubai Financial Services Authority (DFSA). NASDAQ Dubai is located in the Dubai International Financial Centre (DIFC). For more information, visit www.nasdaqdubai.com.
OIC is an industry cooperative funded by the Boston Options Exchange, Chicago Board Options Exchange, International Securities Exchange, NASDAQ Options Market, NASDAQ OMX PHLX, NYSE Amex Options, NYSE Arca, and The Options Clearing Corporation. OIC was formed in 1992 to educate investors and their financial advisors about the benefits and risks of exchange-traded equity options. OIC's resources include: The Options Industry Services Help Desk at 1-888-OPTIONS, educational Web sites at www.optionseducation.org and www.OICoptions.com, evening seminars throughout the continental United States and Canada, instructional DVDs and educational literature and software.
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